Open a new PenFed checking and savings account to earn up to $850 in bonuses. This limited-time offer rewards you for choosing PenFed for your banking needs.
The offer is exclusively available to the original recipient and cannot be shared or extended to others.
Update 10/17/2024: The offer seems to still be available.
Key Takeaways
- Up to $850 in Bonuses: Earn $250 when you open a new PenFed checking account and set up qualifying direct deposits. Add a PenFed Premium Online Savings account and receive up to an additional $500 bonus, with an extra $100 bonus for bundling both offers.
- Easy Requirements: Qualify for the bonuses by meeting straightforward direct deposit and deposit balance requirements.
- High-Yield Savings: PenFed’s Premium Online Savings account offers an impressive 3.00% APY, which is over 6 times the national average, helping you grow your savings faster.
- Nationwide Availability: The offer is available nationwide via membership to the credit union.
How to Maximize Your $850 PenFed Credit Union Bonus
PenFed Credit Union is offering a fantastic opportunity for new members to earn up to $850 in bonuses by opening new checking and savings accounts. Here’s how you can take full advantage of this offer:
- $250 Checking Bonus:
- Step 1: Open a new PenFed Free Checking or Access America Checking account.
- Step 2: Set up direct deposits totaling $1,500 or more per month for two consecutive months.
- Bonus: Once you meet these requirements, you’ll receive a $250 bonus, credited directly to your account.
- Up to $500 Savings Bonus:
- Step 1: Open a PenFed Premium Online Savings account.
- Step 2: Deposit up to $50,000 from an external account within the promotional period.
- Bonus: Earn $100 for every $10,000 deposited, up to a maximum bonus of $500. Your bonus will be credited within 60 days after the promotional close date.
- Extra $100 Bonus for Bundling:
- Step 1: Open both a checking and savings account during the promotional period.
- Step 2: Complete the requirements for both the checking and savings bonuses.
- Bonus: You’ll receive an additional $100 bonus for bundling these offers.
Why PenFed Credit Union is a Great Choice
PenFed Credit Union is known for its member-focused approach and competitive rates. Here’s why opening an account with PenFed makes sense:
- No Monthly Fees: PenFed offers checking accounts with no monthly fees and no minimum balance requirements, making it easy to manage your money without worrying about extra costs.
- High-Yield Savings: The PenFed Premium Online Savings account offers a 3.00% APY, significantly higher than the national average, helping you grow your savings faster.
- Convenience and Flexibility: Manage your accounts with 24/7 online and mobile banking, free online transfers, and easy access to funds with no ATM fees.
Our Take on the PenFed Credit Union Bonus Offer
The PenFed Credit Union bonus offer is a great opportunity for those looking to open new checking and savings accounts while earning substantial rewards. This is the best offer we’ve ever seen from this CU.
If you’re in the market for a new banking experience, PenFed’s combination of high-yield savings, no monthly fees, and generous bonus offers make it a top contender. Act quickly—this offer is only available for a limited time!
See more PenFed CU promotions:
- Penfed Credit Union $750 Savings Bonus (Nationwide) – Ends 9/30/25
- PenFed Credit Union – Get Up to $150 Bonus with New Checking – Ends 10/31/25
- Penfed Powered by Purefy Student Loan Refinancing Review: Unique Options For Borrowers
- Penfed Credit Union Promotion: $500 Checking & Savings Bonus (Nationwide) – Ended
- Penfed Credit Union $200 Checking Bonus (Nationwide) – Ended
- PenFed’s Car Buying Service $350 Cash Bonus – Ends 4/30/23
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